Economists reach a conclusion on subsidies for stadiums

After the comment on the economics of sports stadiums in my previous posting I was reminded of this survey paper on the topic:

Do Economists Reach a Conclusion on Subsidies for Sports Franchises, Stadiums, and Mega-Events?

by Dennis Coates and Brad R. Humphreys

Abstract

This paper reviews the empirical literature assessing the effects of subsidies for professional sports franchises and facilities. The evidence reveals a great deal of consistency among economists doing research in this area. That evidence is that sports subsidies cannot be justified on the grounds of local economic development, income growth or job creation, those arguments most frequently used by subsidy advocates. The paper also relates survey evidence showing that economists in general oppose sports subsidies. In addition to reviewing the empirical literature, we describe the economic intuition that probably underlies the strong consensus among economists against sports subsidies. (Emphasis added)

May be I should send a copy of the paper to Mayor Parker.